NSFX | Mar 31, 2014 03:03AM ET
Good Morning,
Equities in US last week had a mixed performance: the DJIA gained 19 points at 16,240 (+0.12% weekly) and the S&P500 lost 7 points at 1,850 (-0.38% weekly). Nasdaq underperformed the others gauges and lost 75.25 points at 3,563 (-2.07% weekly) and biotechnology shares had a weight in the negative performance of the index. There is uncertainty in the stock market and investors are evaluating fundamentals for future trading decisions.
In the FX market UsdCad dropped 161 pips at 1.1059 (-1.43% weekly). The pair rose more than 10% from the beginning of 2013 and likely the loonie dollar will rally if traders are not going to place fly to quality trades that lift the US dollar. EurUsd lost 40 pips at 1.3752 (-0.29% weekly) and is the second consecutive weekly drop for the most traded currency pair. UsdChf gained 40 pips at 0.8868 (+0.45%) and is making higher highs even often it closed much below its intraday highs. UsdJpy is trading in trading in a 330 pips range in the latest 2 months and a breakout will likely bring UsdJpy to a correction or a new multiyear high. The pair closed on Friday at 102.81 (+0.54% weekly), up 55 pips. The Aussie dollar outperformed the Kiwi dollar when compared against the greenback: AudUsd rose 171 pips at 0.9249 (+1.88% weekly) and NzdUsd gained 118 pips at 0.8649 (+1.38%).
Considering that commodity currencies gained against the US dollar and Copper and softs like Sugar and Coffe rose more than 5% last week precious metals now are considered safe haven trades. Gold lost 41.6$ at 1,294.4/oz (-3.11% weekly) and Silver closed at 19.62 $/oz (-2.41% weekly). Crude Oil consolidated above 100$/ barrel at 101.63 (+2.18% weekly) and Natural Gas after five consecutives negative weeks closed at 4.47 $/BTU (+3.69% weekly).
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